An HCM platform can provide a lot of benefits, and not just for HR and payroll teams. You may not think it at first glance, but human capital management processes impact nearly every department within your organization.
This solution will be used to maintain and manage all of the moments that matter for each employee within your workforce, and its use will affect everyone from the executive team, to the finance and IT departments and beyond. So with that in mind, shouldn't these different stakeholders have a say in the HCM system your company invests in? I think so.
When it comes time for your business to weigh its options and purchase an HCM platform, it’s important to gather all the right stakeholders together to ensure that the buying team makes the best decision for your business. There are a few key participants here that you shouldn’t leave out – here are the four all-stars you need to assemble:
1. Human Resources
Including someone from the HR team in this buying decision is a no-brainer, as the HCM system will primarily be used to manage the employee lifecycle. That’s what HR lives and breathes every day, so their perspective will be critical in helping you end up with a system that fits your organization.
An HR representative on the buying team (this person might even be you yourself) can fill everyone else in on the details around critical employee-related activities , how they work right now at your organization, and what can be done to improve them. Some areas where HR will greatly increase the team’s understanding include:
- Recruiting and hiring
- Benefits enrollment
- Employee engagement
- Turnover and retention
- Performance goals and reviews
For these and the many other areas they cover, HR will be best positioned to ask the HCM vendor the right questions to ensure your all-star buying team gets all the info and details they need to make the best decision. HR will be able to ask questions that get right to the heart of things like:
- How the HCM system transitions new hires from recruiting to onboarding
- How the platform will support engagement during onboarding and throughout the employee lifecycle
- The types of benefits capabilities the HCM system can support
Payroll teams have a lot on their mind when it comes to HCM, including the ways in which a unified HCM platform will help them provide the perfect paycheck every pay period for your workforce, ensure that the proper tax amounts have been deducted, and confirm that all processes are in compliance with any national, local, or industry regulations required. Payroll will also communicate to the buying team around how these processes are highly sensitive, and how the system you choose must be streamlined and simple and not cause disruptions once deployed because of that. After all, any delays with paychecks or compliance reporting could cause a blizzard of consequences for you, your employees, and your company.
A payroll representative will bolster your team’s buying decision by asking the HCM vendor important questions like:
- How easy will it be to include the company's own pay and time rules within the HCM platform?
- Is the platform able to pinpoint and catch any payroll errors, or will this require a lot of manual intervention?
- At what point in the pay cycle can payroll data be reviewed?
Getting payroll involved early in a buying decision can help ensure that the HCM system you land on supports everything leading up to payday and everything that happens until the next pay period.
3. Finance and Operations
Finance and operations team members aren’t just well-versed in your company’s budgetary needs – they’re also the people to turn to for worker time and accrual rules, workload and scheduling stipulations, critical productivity metrics, budgetary and revenue data, and other administrative considerations. Because your HCM system will affect and ideally help streamline these key processes, having finance and operations representation on your buying team is important if you want to make a good decision.
Finance and operations can make sure to ask about:
- How the company's budgetary goals are taken into account within the HCM system
- How the platform will separate out the time rules for different types of workers
- What features the HCM system includes to enable workload and scheduling projections
These more business-oriented areas of expertise help build on the considerations of the HR and payroll teams, ensuring that operations and finance people can successfully leverage the platform for their purposes as well.
IT has a different set of considerations for an HCM platform than our three previous stakeholder groups. While HR, payroll, finance, and operations are focused on critical employee- and administrative-focused tasks and processes, IT wants to ensure that the new platform will work well within the existing IT infrastructure. What’s more, IT will bring up other important considerations, like the security of the platform and how its data protection features fit into your compliance requirements.
IT can ask the vendor key questions like:
- How will the HCM system connect with other platforms in the company infrastructure?
- What does cloud support for the platform look like?
- How often does the HCM system require updates, and how much work is required from our organization to apply them?
Conclusion: It's game time
Bringing these four stakeholders together will create a true HCM decision-making dream team, capable of tackling all the most important considerations for your organization. All-stars, assemble!
To find out more about why these all-stars make the cut and the types of questions they should ask potential vendors, check out our HCM Buyer’s Guide today.